Royal Caribbean Cruises (NYSE:RCL) Stock Price Expected to Rise, Truist Financial Analyst Says

Royal Caribbean Cruises (NYSE:RCL) had its target price boosted by analysts at Truist Financial from $204.00 to $272.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 10.07% from the stock’s previous close.

Several other equities research analysts also recently weighed in on RCL. Morgan Stanley raised their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Citigroup lifted their target price on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $228.63.

Royal Caribbean Cruises Stock Up 1.2 %

Shares of NYSE RCL traded up $3.05 during mid-day trading on Monday, reaching $247.11. 221,865 shares of the company were exchanged, compared to its average volume of 2,334,719. The firm has a 50-day moving average of $208.22 and a 200 day moving average of $175.28. Royal Caribbean Cruises has a 1 year low of $110.66 and a 1 year high of $249.52. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The stock has a market cap of $66.44 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 0.64 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the business earned $3.85 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. On average, research analysts expect that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the transaction, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the sale, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 404,332 shares of company stock worth $94,299,521. Corporate insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wedge Capital Management L L P NC raised its position in shares of Royal Caribbean Cruises by 2.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after buying an additional 7,298 shares during the period. QRG Capital Management Inc. lifted its position in Royal Caribbean Cruises by 17.2% in the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after buying an additional 5,655 shares during the last quarter. Souders Financial Advisors acquired a new position in Royal Caribbean Cruises in the third quarter valued at about $800,000. Swiss National Bank increased its position in shares of Royal Caribbean Cruises by 0.5% during the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after acquiring an additional 3,800 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises during the second quarter valued at about $611,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.